Logitech International S.A. $LOGI Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in Logitech International S.A. (NASDAQ:LOGI) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,961,337 shares of the technology company’s stock after selling 100,176 shares during the quarter. Pictet Asset Management Holding SA owned approximately 2.02% of Logitech International worth $266,670,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Logitech International in the third quarter valued at approximately $30,000. CIBC Private Wealth Group LLC raised its position in Logitech International by 61.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 455 shares of the technology company’s stock valued at $46,000 after purchasing an additional 173 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Logitech International by 40.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 576 shares of the technology company’s stock worth $52,000 after purchasing an additional 165 shares during the period. Richardson Financial Services Inc. boosted its stake in Logitech International by 101.5% during the 4th quarter. Richardson Financial Services Inc. now owns 663 shares of the technology company’s stock worth $66,000 after purchasing an additional 334 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in Logitech International by 911.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 678 shares of the technology company’s stock worth $68,000 after purchasing an additional 611 shares during the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LOGI shares. Wall Street Zen cut shares of Logitech International from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Logitech International in a research note on Wednesday, May 6th. Weiss Ratings raised Logitech International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Barclays lifted their target price on Logitech International from $98.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Citigroup upped their price target on Logitech International from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $113.67.

Logitech International Trading Down 3.3%

NASDAQ:LOGI opened at $97.50 on Friday. The company has a market capitalization of $14.29 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13. The firm has a 50-day moving average price of $106.55 and a two-hundred day moving average price of $99.43. Logitech International S.A. has a twelve month low of $83.32 and a twelve month high of $129.66.

Logitech International (NASDAQ:LOGI) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.03. Logitech International had a net margin of 14.69% and a return on equity of 34.09%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts predict that Logitech International S.A. will post 5.16 earnings per share for the current year.

Logitech International Cuts Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 22nd will be issued a $1.36 dividend. This represents a dividend yield of 126.0%. The ex-dividend date is Tuesday, September 22nd.

Logitech International Company Profile

Logitech International SA is a Swiss-headquartered company that designs, manufactures and markets a wide range of computer peripherals and accessories for consumers, gamers and business customers. Founded in 1981, the company develops hardware and complementary software that enable people to interact with digital devices across work, home and entertainment settings. Logitech maintains corporate offices in Switzerland and significant operations in the United States and other regions worldwide.

The company’s product portfolio includes mice, keyboards, webcams, headsets, microphones, speakers, remote controls and other input/output devices, along with specialized lines for gaming, streaming and video collaboration.